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  • #11,901
  • Jan 25, 2016 9:47pm Jan 25, 2016 9:47pm
sorry guys to post a irrelevant question here but u guys were active so taught u might help . i'm not use to trade cfd s and here's the specification of wheat contract.
considering tick size &tick size , what's the minimum movement gonna cost me in $ if i open trade for 0.01 lot ? thank u
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  • #11,902
  • Jan 25, 2016 10:28pm Jan 25, 2016 10:28pm
Quoting ChinaTraderz
{quote} LoL and that's true. But actually I am a Chinese, not a problem to me to read those so far. I just worried when I share my trades, all buddies here will be crazy. I still can't figure out how to change those language to English, but I believe will be shifting to IB soon as I request my company to do so. This brokers sucks, and that's China market.
I don't use IB, but have heard good things ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,903
  • Jan 25, 2016 10:37pm Jan 25, 2016 10:37pm
Quoting KumoBreaker
sorry guys to post a irrelevant question here but u guys were active so taught u might help . i'm not use to trade cfd s and here's the specification of wheat contract. considering tick size &tick size , what's the minimum movement gonna cost me in $ if i open trade for 0.01 lot ? thank u {image}
I'm not all that familiar with CFD's, but from what you posted there, there are four ticks to a point, and each tick is worth 12.50, so each point of movement = $50. The question is, is that tick value based upon one standard lot which equals the contract size (50) you have in that dialog box or something else? It isn't clear to me ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,904
  • Jan 26, 2016 6:32am Jan 26, 2016 6:32am
Quoting ZebraSquirl
{quote} I don't use IB, but have heard good things ... .
Yeah, very competitive brokers I believe. But they are famous here in Hong Kong.
  • #11,905
  • Jan 26, 2016 10:04am Jan 26, 2016 10:04am
we are set for a bottom in US equities if the Fed plays the dove song and oil looks to bottom itself @$30 +/- ...... lots of talk about oil production cuts in the east and if oil starts to truck up out of the $30's, US equities will follow back above SPY $200 and quite higher....opportunity
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,906
  • Jan 26, 2016 11:08am Jan 26, 2016 11:08am
Quoting The Fool
we are set for a bottom in US equities if the Fed plays the dove song and oil looks to bottom itself @$30 +/- ...... lots of talk about oil production cuts in the east and if oil starts to truck up out of the $30's, US equities will follow back above SPY $200 and quite higher....opportunity https://www.youtube.com/watch?v=Qsvwspk4WkI
Who knows... I am not so optimistic, since these correlations comes and goes... Nobody cared for Oil before. But now -> when I trade /ES I have an /CL chart open next to it. Market has a very very low confidence atm, it needs something to correlate, some "exuse". Additional "noise" is coming earnings. Another thing -> in just a few months, this is 3rd time we visit levels very close to 1800. Idk... Movement again in that direction and these lows will be breached (Oct 2014, Aug and Sep 2015, and low from this month). On the other hand, current formation is like inverted H&S. We could have another push higher... opportunites in both directions.

Wanted to do something about AAPL ER's, probably a wide short strangle, but vol have just evaporated from options since open .
Hope is dangerous in this game.
  • #11,907
  • Jan 26, 2016 11:10am Jan 26, 2016 11:10am
Quoting The Fool
we are set for a bottom in US equities if the Fed plays the dove song and oil looks to bottom itself @$30 +/- ...... lots of talk about oil production cuts in the east and if oil starts to truck up out of the $30's, US equities will follow back above SPY $200 and quite higher....opportunity https://www.youtube.com/watch?v=Qsvwspk4WkI
Took a small SPY short put vert position several strikes below 1810 ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,908
  • Jan 26, 2016 11:11am Jan 26, 2016 11:11am
Quoting ZebraSquirl
Non-Earnings Premium Selling Play XLE Feb 26th 47.5/59 short strangle POP%: 73 Max Profit: $144/contract BPE: ~$531 BE's: 46.06/60.44
Covered for a small profit; want to redeploy elsewhere or reduce the number of things I've got on now.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,909
  • Jan 26, 2016 11:12am Jan 26, 2016 11:12am
Quoting ZebraSquirl
It's about darn time I played an airline: UAL Jan 29 40/48 short strangle for an .87 credit ... . They announce tomorrow morn before market open. Probs not worth the BP, frankly.
Out at 50% max ... . Not sure how many of these earnings I'm going to play here. Plenty of vol in the broader market not to monkey with those too much ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,910
  • Jan 26, 2016 11:23am Jan 26, 2016 11:23am
Quoting StrayDog
{quote} Who knows... I am not so optimistic, since these correlations comes and goes... Nobody cared for Oil before. But now -> when I trade /ES I have an /CL chart open next to it. Market has a very very low confidence atm, it needs something to correlate, some "exuse". Additional "noise" is coming earnings. Another thing -> in just a few months, this is 3rd time we visit levels very close to 1800. Idk... Movement again in that direction and these lows will be breached (Oct 2014, Aug and Sep 2015, and low from this month). On the other hand,...
I looked at AAPL setups (both IC and short strangle) last night. Didn't seem like an IC would yield much, so the short strangle was what I was going to go with, but the IVR was at 50 odd last time I checked -- not stellar, so I may pass that over if it doesn't look attractive an hour before close or so.

I kind of agree with you on the broader market; I've tried to call direction/levels so many times in here I've just thrown up my hands and decided it's going to be between 1800 and 2050 for a while and to sell premium clear of those strength/weakness areas for the time being, keeping trades small if, for example, 180 breaks ... . May be waiting for a while to sell into strength, is my guess ... .

Naturally, Draghi could open his piehole and tell everyone where the "Free money" is going to be going forward ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,911
  • Jan 26, 2016 12:01pm Jan 26, 2016 12:01pm
Quoting The Fool
AAPL kitty just 2 days to go...I'll be happy to net out min 35c
re: AAPL DC, Jan5/Feb1 $104/$116 - both sides calls - in for $0.36 and now the $104's are worth about that.......I could cash them out pre-ER and take my chances on a nice run back above $110........prolly what I will do, will wait for lunchtime to squeeze the last drop of pwofit on the low end.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,912
  • Jan 26, 2016 2:27pm Jan 26, 2016 2:27pm
Quoting The Fool
re: AAPL DC, Jan5/Feb1 $104/$116 - both sides calls - in for $0.36 and now the $104's are worth about that.......I could cash them out pre-ER and take my chances on a nice run back above $110........prolly what I will do, will wait for lunchtime to squeeze the last drop of pwofit on the low end.....
....down to the wire....daytrading is a glorious endeavor....probably the pinnacle of human development....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,913
  • Jan 26, 2016 2:51pm Jan 26, 2016 2:51pm
Quoting The Fool
{quote} re: AAPL DC, Jan5/Feb1 $104/$116 - both sides calls - in for $0.36 and now the $104's are worth about that............
...Tempted to let the DC run past the ER and get the big score when AAPL settles right on the sweet spot right at expiry.....BUT, not a smart trade, will always be better to get the bird in hand .... about to close the $104 calendar for b/e on the DC + a few cents profit.....the $116 leg a free trade, come what may....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,914
  • Jan 26, 2016 2:55pm Jan 26, 2016 2:55pm
...done, $104 leg out for $0.42, pretty close to a b/e for the kitty, now just need a miracle pop for AAPL.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,915
  • Jan 26, 2016 5:32pm Jan 26, 2016 5:32pm
Quoting The Fool
...done, $104 leg out for $0.42, pretty close to a b/e for the kitty, now just need a miracle pop for AAPL.....
sour Apples....my NFLX and AAPL earnings trades were both breakeveners....big market selloff in Jan got in the way. However, I like the approach and will look to do it again. Liz and Jenny look to buy these calendars right after the ER, as that is often when the iv is at a low....with three months to wait tho, idk....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,916
  • Jan 26, 2016 5:36pm Jan 26, 2016 5:36pm
Dunno why I continue to f with Gold -- probably because (a) I'm bored waiting for my longer term setups to work out; (b) I can't figure out the rest of this train wreck market; and (c) XAUUSD and GLD provide me with some good levels to work with:

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I'm either looking for it to tank (to sell short put verticals) or to move toward one of these strength areas to sell short call verticals ... . Still has some way to go to either side ... . At best, a "hobby" trade (i.e., picking up pennies off the floor), but sure beats a poke in the eye with a sharp stick ... .

Edit: That 1160 area may be another place to consider selling at ... . We'll know when we get there ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,917
  • Jan 26, 2016 5:43pm Jan 26, 2016 5:43pm
Quoting The Fool
{quote} sour Apples....my NFLX and AAPL earnings trades were both breakeveners....big market selloff in Jan got in the way. However, I like the approach and will look to do it again. Liz and Jenny look to buy these calendars right after the ER, as that is often when the iv is at a low....with three months to wait tho, idk....
Yeah, 90 days. I start to get "itchy" after two weeks of staring at an iron condor ... .

Hence, the "Aggressive Midget" ("Aggressive" because it's relatively low POP%; "Midget" because it's of "short" duration):

Here's the setup I put on today at NY open:

SPX Feb 5th 1785/1795/1930/1940 Iron Condor
Probability of Profit: 60%
Max Profit: $385/contract

It's not my usual cup of tea, but I don't have nearly enough time to effectively scalp /ES, so this is my "sugar substitute" for that ... .

Edit: I fully expect to take it up the pooper on this one, particularly the call side ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #11,918
  • Edited 9:37pm Jan 26, 2016 8:50pm | Edited 9:37pm
Quoting The Fool
sour Apples.... Liz and Jenny look to buy these calendars right after the ER, as that is often when the iv is at a low....with three months to wait tho, idk....
damn AAPL funkified the whole market....well we'll see if JY brings the fabreze. Yeah I am not gonna sit on ER trades for 3 months, 3-4 weeks is more my speed. Check out this EXPE DD .... the ER is 2/11, the DD will benefit from rising iv, the goal would be to take off the trade pre ER. EXPE not great though because I can not buy cheap verts to protect the outside ends of the DD
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"If The Fool persists in his Folly he will become wise." - William Blake
  • #11,919
  • Jan 27, 2016 11:50am Jan 27, 2016 11:50am
In case we visit areas around 1800-1830 soon... I have just bought a few of /ES Feb 1850/1845 put spreads for $1.25 debit.
Will buy a few more IF I can get them for $1.00.

Also will monitor /ES after FOMC and than decide if I want to sell some call spreads as well, like maybe Feb 1950/1980...
(Sell wide, buy narrrow)
Hope is dangerous in this game.
  • #11,920
  • Jan 27, 2016 12:04pm Jan 27, 2016 12:04pm
You and I are leaning different ways, SDog - I am looking for a dovish Fed and rallying oil to spark a rally for US equities. I am trying to fill a Feb/Feb4 SPY $202/203 call diagonal for 4c.....
"If The Fool persists in his Folly he will become wise." - William Blake
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